The sale at the end of the season continues to suppress the movement of the Etherak. ETH has recently fluctuated around $1,500, falling by about 5.3 per cent in the past week and by about 25 per cent in the current quarter, recording a decline for the first three consecutive quarters in history.

The financial front is still weak.

At the same time as the market was under pressure, there was no significant return of institutional funds. The ETF has recorded net outflows on several consecutive trading days, with a cumulative outflow of approximately $274 million, with no single-day net inflows during the period.

There is also a continuing decline in the number of large holding stock on the chain. A market analyst, Ali Martinez, indicated that some 550,000 ETHs had been sold in total over the past week. Lookonchain also disclosed that a giant whale sold 2,468 ETHs after more than five months of possession, leaving the field at a price of approximately $1572, at a loss of approximately $4.33 million.

The company won't be able to reverse the pressure.

Despite weak markets, some companies continue to grow ETH. SharpLink disclosed the repurchase of 10,000 ETHs at an average purchase price of approximately $1611 and a total value of approximately $16.1 million. Bitmine has also increased the number of ETHs by 27084 in the past week, rising to over 5.7 million.

For the time being, however, the purchases of such company's treasury were not sufficient to counter other sales pressures. Bitmine, in a post published on 30 June, stated that there might be a “decorative report” set-up at the end of the quarter and that some agencies often sold weaker assets at the end of the season. It mentioned that bitcoin had fallen by 13 per cent in the current quarter, by 25 per cent in the south-east, and that encrypted assets had been reduced by the reporting period.

$1,500 a line to focus on.

In terms of price structure, ETH is still operating below the downward line, and several rebounds since May have failed to break it. On the dayline level, the vicinity of $1644 constitutes a resistance, and if the purchase continues, the vicinity of $1695 is the next critical pressure level.

Derivatives data also indicate that market differences remain high. The CoinGlass data show that there are more empty settlements close to $1590 to $1600, and larger multiple settlements close to $1530 to $1545.

This means that if the price goes up through the upper zone, it may push the ETH to further explore the 1640 to $1700 area; if the lower mobility belt is missed, the pressure may be magnified again, and the market will continue to test the psychological threshold of $1,500.

In addition, the adhesiveness of inflation in the United States, high interest rate expectations, geographical tensions in the Middle East and the weakening of DeFi ' s dynamism continue to suppress risk preferences. Current market concerns continue to focus on whether ETF funds have stopped falling, whether whale sales have slowed, and whether ETH can reposition itself above $1640 and $1700.